Belden Inc (NYSE:BDC – Get Free Report) shares reached a new 52-week low on Thursday. The stock traded as low as $95.00 and last traded at $97.6150, with a volume of 260,821 shares trading hands. The stock had previously closed at $105.15.
Analyst Ratings Changes
Several analysts have commented on the stock. Wall Street Zen cut shares of Belden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Needham & Company LLC assumed coverage on Belden in a research report on Wednesday, September 23rd. They set a “buy” rating and a $140.00 price objective for the company. DA Davidson lifted their target price on Belden from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Zacks Research downgraded Belden from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $145.00 price objective (down from $155.00) on shares of Belden in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.
Get Our Latest Report on Belden
Belden Trading Up 1.7%
The company has a market cap of $3.83 billion, a PE ratio of 22.00 and a beta of 1.16. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.82 and a quick ratio of 1.24. The company has a 50-day moving average of $109.83 and a 200 day moving average of $117.81.
Belden (NYSE:BDC – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $965.95 million for the quarter, compared to the consensus estimate of $961.91 million. Belden had a return on equity of 25.06% and a net margin of 5.62%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.97 earnings per share. Analysts predict that Belden Inc will post 8.66 earnings per share for the current year.
Belden Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, September 16th. Belden’s payout ratio is presently 4.49%.
Institutional Investors Weigh In On Belden
Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Belden by 10.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,127 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 102 shares during the period. GAMMA Investing LLC boosted its position in shares of Belden by 25.7% during the third quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company’s stock valued at $63,000 after buying an additional 120 shares during the period. Signaturefd LLC boosted its position in shares of Belden by 39.8% during the third quarter. Signaturefd LLC now owns 587 shares of the industrial products company’s stock valued at $63,000 after buying an additional 167 shares during the period. State of Michigan Retirement System grew its stake in shares of Belden by 2.2% during the first quarter. State of Michigan Retirement System now owns 9,498 shares of the industrial products company’s stock valued at $1,091,000 after buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Belden by 2.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,081 shares of the industrial products company’s stock valued at $928,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.
Belden Company Profile
Belden Inc (NYSE: BDC) is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.
Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden’s offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.
Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.
Featured Articles
- Five stocks we like better than Belden
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.
